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Sep 26, 2012
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government is failing us as a whole. it's the institution of government. and i mentioned self-inflicted political uncertainty. let me make a quick point. we've had three major political uncertainties not additives, but, in fact, multiplying each other and a fourth looming. the debt ceiling debate last year sent us in to a spiral. the discussion out of europe and the lack of a solution on the sovereign debt issue amplified the spiral. the chinese handover, which is not going well is causing an economic slowdown, almost freefall over there. those three things are amplifying economic events, causing business to not invest. and therefore in the united states, this looming fiscal cliff is the fourth data point that's a multiplier. you put all that together, that is a failure of politics. in essence, you know, whichever president it is and whichever congress it is, they're not working out solutions. >> that's where i was going to go. because, you know, whichever president matters a whole lot. i just want to ask your personal view. i've known you a long time. mr.
government is failing us as a whole. it's the institution of government. and i mentioned self-inflicted political uncertainty. let me make a quick point. we've had three major political uncertainties not additives, but, in fact, multiplying each other and a fourth looming. the debt ceiling debate last year sent us in to a spiral. the discussion out of europe and the lack of a solution on the sovereign debt issue amplified the spiral. the chinese handover, which is not going well is causing an...
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Sep 26, 2012
09/12
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government. one day after the u.s. said it had complied with the wto requirement, eu officials rejected the claim and said they would appeal again to the trade organization. this marks the latest chapter in an ongoing battle with the u.s. also pursuing the eu over air bus subsidies. >>> in japan, they have chosen a nationalist talk to lead it into upcoming elections. if former prime minister won the leadership in a second round lineup. he had been the most vocal candidate in calling for a harder start against beijing in ongoing territorial disputes. he's also pushed bank of japan to take more action on the economy. >>> continued anti-japanese tension in china is forcing japan's top auto makers to put the brakes on production. here is the story live from tokyo. >> reporter: the decision comes as growing anti-japan sentiments slow sales of japanese cars in the mainland. toyota's original plan was to shut down its main plant for national holidays starting sunday, but the auto maker has decided to sloez the plant four days
government. one day after the u.s. said it had complied with the wto requirement, eu officials rejected the claim and said they would appeal again to the trade organization. this marks the latest chapter in an ongoing battle with the u.s. also pursuing the eu over air bus subsidies. >>> in japan, they have chosen a nationalist talk to lead it into upcoming elections. if former prime minister won the leadership in a second round lineup. he had been the most vocal candidate in calling...
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Sep 27, 2012
09/12
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government waste gone wild. the shocking story that has all of us here shaking our heads today. >> indeed. and how the lands down under just got a whole lot richer. why am i not there? "street signs" is back after this quick break. >>> here's today's "return on retirement." middle-class americans are dealing with some serious woes. their net worth has fallen, wiping out two decades of growth. in a recent survey, 85% of middle class adults said it is harder to maintain their lifestyle today than a decade ago. so how do they feel about retirement? the results when we return. i've been a superintendent for 30 some years at many different park service units across the united states. the only time i've ever had a break is when i was on maternity leave. i have retired from doing this one thing that i loved. now, i'm going to be able to have the time to explore something different. it's like another chapter. now we need a little bit more... a little bit more vanilla? this is great! [ male announcer ] at humana, we beli
government waste gone wild. the shocking story that has all of us here shaking our heads today. >> indeed. and how the lands down under just got a whole lot richer. why am i not there? "street signs" is back after this quick break. >>> here's today's "return on retirement." middle-class americans are dealing with some serious woes. their net worth has fallen, wiping out two decades of growth. in a recent survey, 85% of middle class adults said it is harder to...
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Sep 25, 2012
09/12
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>> i this i there's no question that this is a mandate on whether you think government needs more tax dollars right now or we need to address the situation of the spending and n inc incurrence of more debt. we need to find a way to come together and have to act like folks do and their families and businesses and say normal reasonable people can disagree but let's find ways to work together and set aside those disagreements. >> if the president is reelected, how do you work with him and what is the proposal that's put on the table to try and move forward at some point? >> again in the hypothetical, if the president is reelected, i do think that he said he's not signing a bill that will keep taxes and the rates where they are. now we'll have to see what kind of sort of growth in revenue that he is talking about, and what form that's going to take. i think mitt romney has said all along, too, that in tax reform, we want to wring down rates for everybody, but he's also said he wants to close the loopholes. >> he said he'll work with congress to figure out what that is. >> that's been the
>> i this i there's no question that this is a mandate on whether you think government needs more tax dollars right now or we need to address the situation of the spending and n inc incurrence of more debt. we need to find a way to come together and have to act like folks do and their families and businesses and say normal reasonable people can disagree but let's find ways to work together and set aside those disagreements. >> if the president is reelected, how do you work with him...
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Sep 26, 2012
09/12
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long dated government bonds are being bought big time. the ten-year yield has now fallen eight straight sessions. last time that happened was in january of 2008. it smells a bit of fear. here's what's going on. stocks are telling a different story. stocks and bonds generally go in different directions. but the blue line is the s&p 500. we have been up, down, up again. the light green -- yellow, seahawks green, whatever you want to call it -- is the price of the ten-year fretreasury not. at the start of the year the two were going in opposite directions as we usually see. we had flare-ups. they started to converge, come back. we did what we normally do, diverged again. look at the far right, they are coming back together. people get scared, sell stocks and buy bonds. is that what's going on here? let's get rick santelli's take on it. rick? >> i think you nailed it. i think there is a bit of a water balloon metaphor or analogy to this as well. the federal reserve has a giant water balloon and they are trying to manage it. that represents al
long dated government bonds are being bought big time. the ten-year yield has now fallen eight straight sessions. last time that happened was in january of 2008. it smells a bit of fear. here's what's going on. stocks are telling a different story. stocks and bonds generally go in different directions. but the blue line is the s&p 500. we have been up, down, up again. the light green -- yellow, seahawks green, whatever you want to call it -- is the price of the ten-year fretreasury not. at...
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Oct 1, 2012
10/12
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the january p sneeze government does not want this to grow out of control, nor does the chinese government. tension certainly is rising and the man on the street is feeling passion about this issue. that's understandable. in the medium to long term, both governments want this to tone down and it will. >> let's hope that pans out. meanwhile all this cash that companies have, you were just talking about this, do you expect cap ex to continue to pick about up? >> i do. there's an awful lot of money sitting on the seed lines us a was noted back in an article back in july/august. almost 44% of the total value is held at cash in company coffers. this money needs to get spent. needs to get spent expenditures, hiring new staff. sitting in the bank is not helping anybody. >> who is spending shall steel makers, equipment makers more gloom about business conditions, sentiment deteriorating sharply. they expect domestic demand to falter, as well. in that mood, they won't be spending anymore money, are they? >> well, again, as the survey had indicated, some of the larger manufacturers are amongst the m
the january p sneeze government does not want this to grow out of control, nor does the chinese government. tension certainly is rising and the man on the street is feeling passion about this issue. that's understandable. in the medium to long term, both governments want this to tone down and it will. >> let's hope that pans out. meanwhile all this cash that companies have, you were just talking about this, do you expect cap ex to continue to pick about up? >> i do. there's an awful...
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Sep 26, 2012
09/12
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. >> that was incentive by the government. the government wanted to increase the home ownership in the united states. so much of the financial crisis written is not true. i had the opportunity, i was ceo of bb & t for 20 years, larry and i were just talking about, we met years ago, i knew bernanke, knew greenspan, all the ceos of large financial institutions and this is, i believe, the first book that actually tells people what really happened in the total context. going back to the early '70s, working through what happened with community reinvestment act, freddie and fannie. the impact on decision makers, a lot of books written by congress that don't really understand what the impact of regulations have on people trying to make decisions. if somebody threatens to put you in jail, closes your bank down, you're going to do things that you may have a lot of discomfort with. and this is something joe would be interested in. i talk a lot about philosophy. bb & t did better than any other institution. all of our management, and ano
. >> that was incentive by the government. the government wanted to increase the home ownership in the united states. so much of the financial crisis written is not true. i had the opportunity, i was ceo of bb & t for 20 years, larry and i were just talking about, we met years ago, i knew bernanke, knew greenspan, all the ceos of large financial institutions and this is, i believe, the first book that actually tells people what really happened in the total context. going back to the...
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Sep 30, 2012
09/12
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right, if they get in trouble, the government will blink and come to their aid. i would like to hear the presidential candidates talk a little bit more about this and say, call out too big to fail, the pernicious doctrine that it is, tvs not going to happen again. the traditional banks are hurt by near zero interest rate policies. traditional banks have to lend to make money. big mega banks have huge trading books. they have to invest overseas. there are a lot of places to make money in a near zero interest rate environment. >> the low interest rates which the federal reserve told us are going to be that way until 2015 are also hurting savers. >> they absolutely are. it creates inflation risk. yes, people are being penalized. the return they get, if they're investing their savings someplace safe, the return they're getting is not keeping pace with inflation. every year they're losing money. and so, of course, that creates incentives to go and invest in riskier assets. that's what we had with the crisis. we had very low interest rates then. not nearly as low as th
right, if they get in trouble, the government will blink and come to their aid. i would like to hear the presidential candidates talk a little bit more about this and say, call out too big to fail, the pernicious doctrine that it is, tvs not going to happen again. the traditional banks are hurt by near zero interest rate policies. traditional banks have to lend to make money. big mega banks have huge trading books. they have to invest overseas. there are a lot of places to make money in a near...
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Sep 27, 2012
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we have a bind for the government. you've got a recession already, you've got 25% unemployment, you've got a housing crisis which means prices have fallen at least 25% and could fall again. the remedy for the markets is to have more austerity. it's what they have to do to gain the confidence of the markets, to gain the confidence of northern european markets and paymasters, i.e., the germans so they can get the bailout if and when they ask for it on a sovereignty basis. they're trying to preempt conditionality by having extreme austerity. we're talking about possibly getting cuts as much as 30% in agriculture, public works and infrastructure. across the board, and there are real concerns that far from being the remedy this could entrench the recession and make it harder for this country to pull itself out of the mire because there are a lot of things that government doesn't control. it doesn't control the regional budgets of places such as a andalucia and catalonia and the other. of course we had a banking sector crisi
we have a bind for the government. you've got a recession already, you've got 25% unemployment, you've got a housing crisis which means prices have fallen at least 25% and could fall again. the remedy for the markets is to have more austerity. it's what they have to do to gain the confidence of the markets, to gain the confidence of northern european markets and paymasters, i.e., the germans so they can get the bailout if and when they ask for it on a sovereignty basis. they're trying to...
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Sep 25, 2012
09/12
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he doesn't want to be writing checks to the foreign governments. he wants a more sophisticated interplay. that was where he was going with this. but he cited the initiative as the model that he would like to pursue. he said what bill clinton has done is a model for how far rin policy can go. many thanks. >> let's get right to our guests. retired four star general. general mccaffery, can i get your take on something, iran saying they have a big missile test and is this bs or is it real? >> i think they are trying to project eemense military power. i do think they have the batteries to close down the gulf for any kind of confrontation. military force is not the option in the gulf. >> but you could surmise that they were taking this test. because ahmadinejad was talking on the news yesterday. normally they would show us pictures. i'm skeptical, did anything happen at all or is this off the radar screen, nothing, zero? >> they have constructed a m missile industry and a lot of it was the russian defecting scientist. this is a third tier military power.
he doesn't want to be writing checks to the foreign governments. he wants a more sophisticated interplay. that was where he was going with this. but he cited the initiative as the model that he would like to pursue. he said what bill clinton has done is a model for how far rin policy can go. many thanks. >> let's get right to our guests. retired four star general. general mccaffery, can i get your take on something, iran saying they have a big missile test and is this bs or is it real?...
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Sep 27, 2012
09/12
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no, it's not our government doing it. it's us. who's to blame for the shocking number of americans spending twice their annual income? that's next. stay with us. for many, nexium helps relieve heartburn symptoms caused by acid reflux disease. osteoporosis-related bone fractures and low magnesium levels have been seen with nexium. possible side effects include headache, diarrhea, and abdominal pain. other serious stomach conditions may still exist. talk to your doctor about nexium. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. [ male announcer ] introducing a reason to look twice. the entirely new lexus es and the first-ever es hybrid. this is the pursuit of perfection. >>> even in this new era of households, america's lowest earner
no, it's not our government doing it. it's us. who's to blame for the shocking number of americans spending twice their annual income? that's next. stay with us. for many, nexium helps relieve heartburn symptoms caused by acid reflux disease. osteoporosis-related bone fractures and low magnesium levels have been seen with nexium. possible side effects include headache, diarrhea, and abdominal pain. other serious stomach conditions may still exist. talk to your doctor about nexium. if we want to...
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Oct 2, 2012
10/12
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the whole fellow government wanted jp morgan to buy bear stearns as part of the federal government to avoid a melt down and now they are coming back and suing jp morgan. is this a crude ploy or a popular thing? >> this committee that he sent up to fine banks to cause the melt down, is the first part if you will. their evidence came out and they testified in 2010. they had this information for years. he has been able to use the last two years of the stuff. >> the martin act which hardly ever works. >> eliot spitzer lost every single thing. there is nothing worse than eliot spitzer. where does he come off? >> here is jp morgan stepping up to the plate and they buy bear sterns and the whole mortgage portfolio that they had. where do they come off suing jp morgan? >> if you want to go after the dumb trades go after the individuals in bear sterns? why sue the whole individuals of bear morgan? >> it is going to go well beyond what is happening right now. obama doesn't care. i think he is coming out looking very bad, larry. >> i want to get a quick take before we bring the members in here. t
the whole fellow government wanted jp morgan to buy bear stearns as part of the federal government to avoid a melt down and now they are coming back and suing jp morgan. is this a crude ploy or a popular thing? >> this committee that he sent up to fine banks to cause the melt down, is the first part if you will. their evidence came out and they testified in 2010. they had this information for years. he has been able to use the last two years of the stuff. >> the martin act which...
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Sep 25, 2012
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we are getting deeper in relationships with some of the largest banks in government agencies in the world. >> look, jim, thank you. i think that because your stock moved up so much. people were taking shots. thank you jim, president and ceo of red hat. talk to you soon. >> stock is up huge. it is up 30% more. this market got really great. and but remember this is still a big growth business and i don't like a lot of technology stocks here. this one can hold up even as i'm sure it could go down for days because it didn't blow away the numbers. >>> good trading can be annen troy point where you make your first bubuys. you don't want that first buy to be too high. you want to feel if you are going out on a big limb and making good money after bad moneystiti decision. they have missed the point entirely. and none more so than my suggestion yesterday that google might have been a better buy than apple. i didn't say i liked the stock more. i didn't say that i wanted to sell apple. i remain a believer in apple and i own it for my trust and it might be time to do buying. but as far as buying it a
we are getting deeper in relationships with some of the largest banks in government agencies in the world. >> look, jim, thank you. i think that because your stock moved up so much. people were taking shots. thank you jim, president and ceo of red hat. talk to you soon. >> stock is up huge. it is up 30% more. this market got really great. and but remember this is still a big growth business and i don't like a lot of technology stocks here. this one can hold up even as i'm sure it...
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Sep 25, 2012
09/12
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. >> corporate governance is by far the biggest risks in china. we've seen stories in the small micro cap side. largely the bigger companies have avoided some of the stig ma -- stigma attached, but it's a risk. there's no way you can fully know what's going on. >> but isn't that absurd as a fund manager to say i don't know what they could do? with all due respect, that seems like a huge risk to take. >> i think if you are willing to take -- like you said, it's a little bit of a value play. there's a discount in the name, in my opinion, for the potential growth. you'll see the largest internet market in the world. so i think the opportunity is such that you take the -- you do the due diligence you can, but you know that in the end, just like enron or world com, there could be an example of something out there that you never really have firm control of. we've met with management as many times as you can. we feel comfortable with the company. but it is china. >> e-bay, is that a market part of the business or the pay pub part of the business? >> the
. >> corporate governance is by far the biggest risks in china. we've seen stories in the small micro cap side. largely the bigger companies have avoided some of the stig ma -- stigma attached, but it's a risk. there's no way you can fully know what's going on. >> but isn't that absurd as a fund manager to say i don't know what they could do? with all due respect, that seems like a huge risk to take. >> i think if you are willing to take -- like you said, it's a little bit of...
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Sep 26, 2012
09/12
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european governments are not dealing with their economic problem. it's so frustrating to watch the ecb do everything right in terms of protecting the banks and the sovereign bond market and watch the politicians fail to do what's necessary to get these economies to grow. you have to stabilize the patient before you try and fission their long-term problems. the politicians don't do this. that means europe stays in a recession. for u.s. investors, i think it is still something of a side show. >> something of a side show. until they either come up with the austerity or -- something's got to give, right? >> because it doesn't disrupt the u.s. economy. the u.s. economy is still growing. our exports to europe are only a very small part of our gdp. the housing market recovery is much more important to the improvement of wealth. we're seeing some improvement of confidence. we're seeing rising home prices. all these are more important to the united states than what's going on in europe. >> mark, how do you see it? you invested in europe these days or no? >>
european governments are not dealing with their economic problem. it's so frustrating to watch the ecb do everything right in terms of protecting the banks and the sovereign bond market and watch the politicians fail to do what's necessary to get these economies to grow. you have to stabilize the patient before you try and fission their long-term problems. the politicians don't do this. that means europe stays in a recession. for u.s. investors, i think it is still something of a side show....
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Sep 26, 2012
09/12
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governments push these companies to give them the data. you know, give up some information on people. so it's very scary. i always say, if you don't want it on the cover of "the wall street journal," don't do it and don't say it. >> words to live by. we'll take a break and come back with a recap on the day. >> after the bell, don't miss my one on one interview with billionaire oil man boone pickens. we'll talk about when oil prices will hit bottom and more. you're watching the "closing bell" on cnbc, first in business worldwide. bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard sign. looks good. [ male announcer ] fedex office. save 50% on banners. l
governments push these companies to give them the data. you know, give up some information on people. so it's very scary. i always say, if you don't want it on the cover of "the wall street journal," don't do it and don't say it. >> words to live by. we'll take a break and come back with a recap on the day. >> after the bell, don't miss my one on one interview with billionaire oil man boone pickens. we'll talk about when oil prices will hit bottom and more. you're watching...
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Oct 2, 2012
10/12
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jpmorgan took over bear sterns at the behest of the government government, they didn't want to buy this bank. they only had a weekend to do whatever due diligence they should do so, why are you bringing this complaint against jpmorgan since he did what the government asked them to do? >> well, we started our investigation in the new york attorney general's office last spring and we were looking a at variety of institutions. the federal working group was founded by president obama in january and formed in months after that and started working with our federal colleagues who also had substantial information and pro-ed a lot of assistance in going after the misconduct at bear stearns, which quite frankly, was some of the most flagrant misconduct by any firm in the bundling and security z securitization of mortgage-backed securities. >> that took place before jpmorgan bought that. >> as the introduction said, when you buy a firm, you get the assets and you get the liabilities and we can't send a message that this kind of flagrant fraud, i mean, misrepresentations that they were monitoring t
jpmorgan took over bear sterns at the behest of the government government, they didn't want to buy this bank. they only had a weekend to do whatever due diligence they should do so, why are you bringing this complaint against jpmorgan since he did what the government asked them to do? >> well, we started our investigation in the new york attorney general's office last spring and we were looking a at variety of institutions. the federal working group was founded by president obama in...
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Sep 27, 2012
09/12
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the public opinion, shock for the government. but i'm confident we'll find our way. there will not be layoffs. we'll find a job for everybody at the end. and what is important that we show the way. and the overcapacity in europe, we cannot be the only one to close a plant. >> of course one of the way to grow is for corporations to prosper. the latest corporation is with with gm tell us about what you're going to do with gm, also venturing perhaps into latin america, brazil is one of the key issues, i think. >> we have to upscale our brands and must share the costs of a number of projects. so to do this i think reliance helps no question. the second is globalization, international development, especially in china, latin america. and we for example in reliance on gm a joint venture global and this will help our globalization. and unless europe, we have to restore profitability. we have some ideas of common projec projects. >> let me focus back on gm. 7% stake now. do you think they will increase that in peugeot? >> well, in the con
the public opinion, shock for the government. but i'm confident we'll find our way. there will not be layoffs. we'll find a job for everybody at the end. and what is important that we show the way. and the overcapacity in europe, we cannot be the only one to close a plant. >> of course one of the way to grow is for corporations to prosper. the latest corporation is with with gm tell us about what you're going to do with gm, also venturing perhaps into latin america, brazil is one of the...
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Oct 3, 2012
10/12
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we don't need the government to do anything. >> right. >> we just need the government to make sure that there are no bad players. >> but, jim, for a while, we weren't -- there was a stated intention to not add to infrastructure for hydrocarbon based energy. that's where we were four years ago. we had to get completely reject that notion. do it now. >> with respect to natural gas, it's all privately funded. it's not government funded. >> right. okay. >>> we've got to run. we're going to come back shortly. when we come back, we're going to talk baseball and politics after the break. and every day since, we've worked hard to keep it. bp has paid over twenty-three billion dollars to help people and businesses who were affected, and to cover cleanup costs. today, the beaches and gulf are open for everyone to enjoy -- and many areas are reporting their best tourism seasons in years. we've shared what we've learned with governments and across the industry so we can all produce energy more safely. i want you to know, there's another commitment bp takes just as seriously: our commitment to ameri
we don't need the government to do anything. >> right. >> we just need the government to make sure that there are no bad players. >> but, jim, for a while, we weren't -- there was a stated intention to not add to infrastructure for hydrocarbon based energy. that's where we were four years ago. we had to get completely reject that notion. do it now. >> with respect to natural gas, it's all privately funded. it's not government funded. >> right. okay. >>>...
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Sep 25, 2012
09/12
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you can't get it from the united states government. they'll pay you nothing. people are going say, wait a minute, now i have to pay 36% and i have risk in the marketplace. these are a lot of big issues. >> i know you meant governor romney. >> let me apologize. >> do you think we go to the election and are in standstill mode until then? once we get the clarity of who's in the white house, what's your expectation? >> i do. i don't anticipate a lot. i know people are talking about that we'll see more in the early parts of november because of the different things with the defense department and where they're going to be at as far as cuts go. we'll get an indication what's going to happen. i think we'll have to wait until the election is over and done with and we'll get clarity for the future of the markets. >> i really like the fact you're looking at this whole dividend issue. we've been talking about the fiscal cliff a lot on this program. do you really think these guys are going to allow dif vidend taxes to go to 43%? >> they think hthis is a bunch f wealthy peo
you can't get it from the united states government. they'll pay you nothing. people are going say, wait a minute, now i have to pay 36% and i have risk in the marketplace. these are a lot of big issues. >> i know you meant governor romney. >> let me apologize. >> do you think we go to the election and are in standstill mode until then? once we get the clarity of who's in the white house, what's your expectation? >> i do. i don't anticipate a lot. i know people are...
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Sep 25, 2012
09/12
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they need help from other government entities. other government entities are literally on strike. they're not coming in. so the fed is involved, but the expectations are so high that the fed is not going to be able to deliver on economic outcomes. >> how does that play out? what does that mean won't be able to deliver economic outcomes? >> it means we'll see them engage more and more. yes, we've seen qe-1, qe-2. we will see even more with the hope that at some point the fed would have ended up providing a bridge for other entities. if they don't, the investment theme is going to go from betting on the fed liquidity to positioning for the collateral damage that the fed will create. >> are you expecting a sizable decline in this market in the next couple of months, and how do you invest around that if you are? >> a lot will depend as to whether the tail winds come back in. the reason why the market has done so well is that the risk of a recession in the u.s., the risk of recession in europe has been removed by the central banks. that's why the markets have done so well and rightly s
they need help from other government entities. other government entities are literally on strike. they're not coming in. so the fed is involved, but the expectations are so high that the fed is not going to be able to deliver on economic outcomes. >> how does that play out? what does that mean won't be able to deliver economic outcomes? >> it means we'll see them engage more and more. yes, we've seen qe-1, qe-2. we will see even more with the hope that at some point the fed would...
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Sep 28, 2012
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the government was less worried. of course, with the announcement of the like ly fate and a date for the party congress, a risk premium is taken off, or at least reduced from the market. >> dr. wong, so many people have such widest mates on china. you hear some people say real gdp growth is 4%. some say 8%. you guys are right under 8% for next year. what could happen in china that would derail things? i agree with you it's a soft landing. that it's landed and turning around. what's on the ground that could actually turn that thesis upside down? >> i think right now, of course, corporate earnings have dropped a lot. i think at the moment what is really positive is property sales have rebounded. so what could derail that, for whatever reason, the government decided to tighten the property sector further or people lose confidence on this sector, that property sales and construction nose dive from where we are now. then it would be very hard to have a soft landing in china. >> guys, more questions for the doctor? >> i wo
the government was less worried. of course, with the announcement of the like ly fate and a date for the party congress, a risk premium is taken off, or at least reduced from the market. >> dr. wong, so many people have such widest mates on china. you hear some people say real gdp growth is 4%. some say 8%. you guys are right under 8% for next year. what could happen in china that would derail things? i agree with you it's a soft landing. that it's landed and turning around. what's on the...
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Sep 28, 2012
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he's also seek government enter session. mervyn king says he welcomes the proposals and wants prompt implementation. simon, welcome. these libor reforms, do they go far enough? >> there are a number of suggests which deal with the fact that there is a market benchmark and therefore there is a limit to how wide they will be involved in the process. so people might look at this and say we wanted to see the criminal sanctions, that was not the scope of this review. if there is one area where i'd be disappointed with the conclusions, it's that it hasn't been more aggression. if you're benefiting from libor as a rate, should you be contributing to it. although wheatley has asked for the fsa to have the power in the future to enforce consume poll more aggressive. >> it was the rate at which banks wouldn't rate to each other. is it going to retain after the scandal, as relevant as it was before? >> there is the traditional role of lie brother bor as the lendi. it's possible that it will be replaced by secured. but it's also incredi
he's also seek government enter session. mervyn king says he welcomes the proposals and wants prompt implementation. simon, welcome. these libor reforms, do they go far enough? >> there are a number of suggests which deal with the fact that there is a market benchmark and therefore there is a limit to how wide they will be involved in the process. so people might look at this and say we wanted to see the criminal sanctions, that was not the scope of this review. if there is one area where...
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Sep 28, 2012
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mine shutdowns from labor disputes to bad weather to government intervention. gold is in a lot of places that aren't sterling democrat says. mark bristol ceo of wrangle told us gold mining is not for sissies. i have pretty much sworn off the entire space. but what if there was a company that gave you the benefits of the gold mining business, name lit ability to find new gold and increase production, and we like growth, without all the short-term headaches, these risks that make owning the stock such a horror show. i think that could be a terrific buy especially in an environment where the price of gold keeps going higher. what is this company? it's sandstorm gold symbol sand. speculative canadian mine financing business. think of sandstorm as beinging a financer for gold miners. we're in an environment where mierns have a lot of trouble getting financing. lenders aren't lending them money. they need more capital. take advantage of this high gold price. that's where sandstorm comes in they will give a gold miner immediate money up front in exchange for the perce
mine shutdowns from labor disputes to bad weather to government intervention. gold is in a lot of places that aren't sterling democrat says. mark bristol ceo of wrangle told us gold mining is not for sissies. i have pretty much sworn off the entire space. but what if there was a company that gave you the benefits of the gold mining business, name lit ability to find new gold and increase production, and we like growth, without all the short-term headaches, these risks that make owning the stock...
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Oct 1, 2012
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not everything government does is wasteful. not everything government does is good. go after the wasteful first, go after the policies which we know don't achieve the goals they were set out to meet. we don't think sequestration -- sequestration was set up as a threat, such a horrible threat that it would force congress to act and hasn't forced congress to act yet. we hope it will in the lame duck, that they'll take thoughtful steps by going after wasteful programs first. >> you're right. it hasn't gotten them to act yet. ryan, good to talk to you. thanks so much. >> thanks so much for having us. >> see you soon. "fast money" begins at the top of the hour. >>> our traders give you the top picks for the fourth quarter. then we'll have all the headlines coming from the value investing congress. our traders will give you the trade. we'll also have the founder of 13 d monitor tell you how you could invest alongside the activist. have you noticed the price action in microsoft lately? it has stalled out. it's coming up upon a make or break quarter, the forth quar r quarter
not everything government does is wasteful. not everything government does is good. go after the wasteful first, go after the policies which we know don't achieve the goals they were set out to meet. we don't think sequestration -- sequestration was set up as a threat, such a horrible threat that it would force congress to act and hasn't forced congress to act yet. we hope it will in the lame duck, that they'll take thoughtful steps by going after wasteful programs first. >> you're right....
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Sep 29, 2012
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if the government rejects their weak conversion, you could see a decline. i would not buy corrections corp up there. not. if you already own it scale out of it into the lead conversion which should come in about three months. remember nobody ever got hurt taking a profit. >>> next up, last friday bill in california stumped me. well, i didn't want to offer an opinion yet. he wanted my opinion on splunk, splk. i needed to do some homework. smoking hot ipo from april. a lot of those have kind of been played out. it has the heads of information technology departments, people that run the computer services to get a run on how their networks are operating. they collect monitors and analyzes data in order to help the tech guys manage their networks more efficiently by showing them where the bottle next are forming. i'll say this for splunk, it's a good idea but budgets are tight. free products do similar things. i'm fearful much larger competitors could enter this market. don't get me wrong. their product is hot and the space is even horse. the stock's valuation i
if the government rejects their weak conversion, you could see a decline. i would not buy corrections corp up there. not. if you already own it scale out of it into the lead conversion which should come in about three months. remember nobody ever got hurt taking a profit. >>> next up, last friday bill in california stumped me. well, i didn't want to offer an opinion yet. he wanted my opinion on splunk, splk. i needed to do some homework. smoking hot ipo from april. a lot of those have...
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Sep 27, 2012
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yes, you have to spend money on government. look at the union crisis in the nfl. it's like it's a problem if it hits something that people care about. well, union refs tend to be better than nonunion refs for a lot of reasons that we don't have the time to get into, and, yes, supporting our men and women in un for him, our firefighter, our police officers and our teachers, i would call that patriotism. >> actually i like that term economic patriotism. it's a term mitt romney should be using. for example, i have always said on this show i don't think it is patriotic to support a 35% corporate income tax. >> there you go. >> that is making america uncompetitive and shipping jobs overseas. so let's get together on the economic patriotism and get that corporate tax rate and personal income tax rate stopped. >> why is it patriotic, phil, i'll give you the last word, why is it patriotic to give state and local government unions who are already bankrupting a half a dozen states around the country, why is it that pat yoriotic all a sudden? >> it sounds like a formula for
yes, you have to spend money on government. look at the union crisis in the nfl. it's like it's a problem if it hits something that people care about. well, union refs tend to be better than nonunion refs for a lot of reasons that we don't have the time to get into, and, yes, supporting our men and women in un for him, our firefighter, our police officers and our teachers, i would call that patriotism. >> actually i like that term economic patriotism. it's a term mitt romney should be...
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Sep 28, 2012
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having worked in government the chain of command is important. the higher up you get the more important it becomes i say it goes susan rice, hillary clinton and then next up obama. the buck stops at the white house. look, the argument they have been making -- you know this better than i do, the argument they have been making is having killed osama bin laden al qaeda is no longer a problem. oops. this was an al qaeda terrorist plot, pre-planned an security breakdown on top of that. is that what they are trying to hide for this political election campaign? >> i believe so. they have invested so much in the notion that the president was coming in and change the relationship with that part of the world. osama bin laden was dead so we could slash defense and pull out of afghanistan early and leave iraq entirely and now the narrative is in tatters. they had a huge personal political interest in maintaining that narrative. it was wrong to begin. it is wrong now and the president himself, even the day after his own director of counterintelligence, matthe
having worked in government the chain of command is important. the higher up you get the more important it becomes i say it goes susan rice, hillary clinton and then next up obama. the buck stops at the white house. look, the argument they have been making -- you know this better than i do, the argument they have been making is having killed osama bin laden al qaeda is no longer a problem. oops. this was an al qaeda terrorist plot, pre-planned an security breakdown on top of that. is that what...
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Sep 26, 2012
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i don't know where they will get the money for that and more government regulation reform in addition to what's happening in the labor markets. earlier today, two capitols suffering violence. athens as well this morning. we saw people rioting in the streets there as well. teargas being thrown by the police. molotov cocktails thrown by protesters. once again trying to disperse crowds there as they protest another round of salary cuts, job losses, taxes as well as they continue to try to balance their budget. sue, it's always a struggle. the more austerity measures they do, the less tax revenue they bring in and it gets harder to balance the budget. >> it's a vicious cycle. simon is in on the conversation as well. we saw reaction to the down side in the european markets. our markets have been resilient to it. i find that curious. if this was a year ago it would have been a different story. >> it's important that wall street is unmoved. given that michelle laid it out as she has i would frame it differently and say this is classic profit-taking in europe after a stunning rally. it's two
i don't know where they will get the money for that and more government regulation reform in addition to what's happening in the labor markets. earlier today, two capitols suffering violence. athens as well this morning. we saw people rioting in the streets there as well. teargas being thrown by the police. molotov cocktails thrown by protesters. once again trying to disperse crowds there as they protest another round of salary cuts, job losses, taxes as well as they continue to try to balance...
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Oct 3, 2012
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why do you think business leaders fail in government? >> well, ting just requires a very different talent set. governments are democracies. businesses are not. good businesses are not run as democracies. government lives, breathes, and dies on fairness. businesses live on efficiency and innovation. there are many other reasons of that nature. the talents are not transferable. >> they're not transferable. i don't understand that. why wouldn't the talents of leadership be transferable? for example, one thing that president obama has been unable to do is really bring the two sides together. it feels like this country is as more divisive than it ever has been. isn't a good leader's job to bring poeople together so they can buy into the leader's vision? >> it is, but it's very, very different than the business world. you'll have a ceo who's surrounded by staff and subordinates that are basically supposed to adopt his vision. the president is surrounded by members of congress who have minds of their own and off partisan gripes with the preside
why do you think business leaders fail in government? >> well, ting just requires a very different talent set. governments are democracies. businesses are not. good businesses are not run as democracies. government lives, breathes, and dies on fairness. businesses live on efficiency and innovation. there are many other reasons of that nature. the talents are not transferable. >> they're not transferable. i don't understand that. why wouldn't the talents of leadership be...
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Sep 26, 2012
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government. >> zarate admitted the u.s. could do business with bout, but it couldn't catch him. >> i had always thought of viktor bout as untouchable. and i also, frankly, didn't think that anyone could get to him. >> a challenge zarate from the white house threw out at a meeting with mike braun and his d.e.a. team. the d.e.a. had just pulled off a string of extraordinarily successful captures of high-value terrorism targets around the world, like afghan drug lords. >> d.e.a. agents live for the hunt. >> but, mike, no one had even gotten a sniff on this guy. >> let me tell you something, armen, when i'm sitting there next to juan and my guys are sitting across the table from him--the very best that our government's got to offer--and he tosses this out on the table, and i look at him in the eyes and they're looking back at me, like, "we'll do this. we can do this." >> but it was about a 5% chance in the back of my mind. and so, you know, i wished them well, and i went back to the white house. >> mike braun's thinking 95%, ok
government. >> zarate admitted the u.s. could do business with bout, but it couldn't catch him. >> i had always thought of viktor bout as untouchable. and i also, frankly, didn't think that anyone could get to him. >> a challenge zarate from the white house threw out at a meeting with mike braun and his d.e.a. team. the d.e.a. had just pulled off a string of extraordinarily successful captures of high-value terrorism targets around the world, like afghan drug lords. >>...
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Sep 27, 2012
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sound like our government, right? details of this rather distu disturbing story. which group is the biggest offender? you'll find out. stay tunes. at optionsxpress we're all about options trading. we create easy to use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! strategies, chains, positions. we put 'em all on one screen! could we make placing a trade any easier? mmmm...could we? open an account today and get a free 13-month e ibd™ subscription when you call 1-888-280-0149 now. optionsxpress by charles schwab. . >>> all right. listen up, single guys. you can become an instant multimillionaire without winning the lottery. a hong kong billionaire can help you do it. all you have to do is marry his daughter. but there's only one tiny catch. robert frank explains why this may be a tough deal to get done. robert. >> thanks, maria. i love this story. a hong kong billionaire is offering $65 million to any man able to marry his daughter. now, in most ways,
sound like our government, right? details of this rather distu disturbing story. which group is the biggest offender? you'll find out. stay tunes. at optionsxpress we're all about options trading. we create easy to use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's genius! strategies, chains, positions. we put 'em all on one screen! could we make placing a trade any easier? mmmm...could we?...
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Sep 25, 2012
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a long way to government seventh inning in terms of the anxieties. they think the anxieties are in seventh. the solutions are way behind, but the people are -- their anxiety is ahead of the solutions to come. >> feels like this european game has some way to played an could be talking about it this time next year. thank you very much, rick. thank you very much, michelle, for working the phones as well. >>> all right. moving on, caterpillar raising a red flag on china today and sellers taking a chunk out of that stock. the company is cutting its 2015 earnings forecast because of slower-than-expected economic recovery. cat tracker says equipment sales in australia and china were among areas of concern and many people seem to be cheering a china slow down, perhaps in the hopes it will help the american recould have environment that a dangerous way to think? another way, a simpler way, do we need china more than we know? let's ask the author of "what the u.s. can learn from china" and peter navarre row, economist and director of the film "death by china"
a long way to government seventh inning in terms of the anxieties. they think the anxieties are in seventh. the solutions are way behind, but the people are -- their anxiety is ahead of the solutions to come. >> feels like this european game has some way to played an could be talking about it this time next year. thank you very much, rick. thank you very much, michelle, for working the phones as well. >>> all right. moving on, caterpillar raising a red flag on china today and...
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Sep 28, 2012
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right now it's looking like 2 million in total nationwide, including government employees, from some reports. that number may be a bit inflated. the reports are coming from industry. we question whether or not there's a bias to those reports. >> the timing -- you're item id -- itemizing. this is before congress goes back to work to fix this crisis. is it possible notices go out when they do just to highlight what could happen as a scare tactic to get congress back to work? >> congress is already on a recess. they're on a recess all the way through the elections. actually, the government employee union has a 90-day notice policy, which would actually go out at the beginning of october. so the dates are kind of insignificant at this point. we're looking more at the nominal dollar effect, the total addressable market shrink for the defense market. it's going to be quite significant. >> i look at it the other way, actually. initially, i thought they had to tell employees by october 1st. so if it was october 1st, by the time the election came around, it would be out there. you can hide it
right now it's looking like 2 million in total nationwide, including government employees, from some reports. that number may be a bit inflated. the reports are coming from industry. we question whether or not there's a bias to those reports. >> the timing -- you're item id -- itemizing. this is before congress goes back to work to fix this crisis. is it possible notices go out when they do just to highlight what could happen as a scare tactic to get congress back to work? >>...
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Oct 3, 2012
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because the government changes took the shine off the sector. we know it's a very expensive industry that requires a lot of capital at the early phase. do you think the investment banks are willing to run the ticket on this because of the dynamics that play out in the sector? >> there is a bit of concern there with funding. but at the end of day, across europe, we're committed to reducing our carbon generating capacity, and the only way we can do that is through the construction of low carbon generating power stations and nuclear is one of those solutions. >> thank you very much for joining us today, scott parker on set with us today. >>> a move to raise cash and reduce a debt pile, the spanish telecomgiant says it has not decided what percent of capital it will float, but it does plan a controlling stake in the company. telecom has confirmed it's in discussions to combine with smaller rival metro pcs. deutsche telecom could come a step closer to exiting the market. they moved to call speculation saying significant issues were still outstanding
because the government changes took the shine off the sector. we know it's a very expensive industry that requires a lot of capital at the early phase. do you think the investment banks are willing to run the ticket on this because of the dynamics that play out in the sector? >> there is a bit of concern there with funding. but at the end of day, across europe, we're committed to reducing our carbon generating capacity, and the only way we can do that is through the construction of low...
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Sep 25, 2012
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you know, we were one government. we were dealing with a very dire situation. we do need to act. i don't question we need to act. we absolutely needed to act, just the wisdom of the actions we took i think bears some scrutiny and some self-analysis. but yes, we dialed back a lot. i mean, our debt guarantee program, i was originally asked to just make a public statement that the fdic was going to be guaranteeing all financial institution liabilities and that would have been a really huge risk exposure for us, one we were not equipped to do and one i was not willing to take. it was not necessary. we dialled that back. >> when you heard that mr. geithner was made treasury secretary, you said it was like a punch in the gut? >> yeah. >> as we move through the financial crisis, it became clear that house was going to be the major issue once the systemic risk had been taken out for financial institutions yet you say, "i don't think helping homeowners was ever a priority for tim geithner and/or larry summers." >> i think they thought it was messy. it was hard. >> what was their priority
you know, we were one government. we were dealing with a very dire situation. we do need to act. i don't question we need to act. we absolutely needed to act, just the wisdom of the actions we took i think bears some scrutiny and some self-analysis. but yes, we dialed back a lot. i mean, our debt guarantee program, i was originally asked to just make a public statement that the fdic was going to be guaranteeing all financial institution liabilities and that would have been a really huge risk...
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Oct 2, 2012
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government. jpmorgan stock closing up 1.2%. and "new york times" says u.s. senate will try to use the lame duck session to reach a comprehend len sif deal to cut the deficit instead of a short term solution. lawmakers will reportedly agree on a specific target likely around $4 trillion over ten years and they would vote to put off the automatic tax hikes and spending cuts set to take effect in january. but with the deficit coming down payment to signal how serious they are. jim, how sdw this get resolved? >> well, i haven't heard that sister, but that's what we've been picking up, that in the background of all these guys working on the deal already. soon after the election, our best guess is that there will be one. not too different from that story actually. >> qe-3 meanwhile, how does that play? does that continue to support lift asset prices? how do commodities get in the wash between slowing chinese growth and fed action? >> that's a good question. because i think it's a big one. i think we're
government. jpmorgan stock closing up 1.2%. and "new york times" says u.s. senate will try to use the lame duck session to reach a comprehend len sif deal to cut the deficit instead of a short term solution. lawmakers will reportedly agree on a specific target likely around $4 trillion over ten years and they would vote to put off the automatic tax hikes and spending cuts set to take effect in january. but with the deficit coming down payment to signal how serious they are. jim, how...
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Sep 27, 2012
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the second reason is historically interest rates have fallen when the fed and the government are trying to work there way out of a recession, out of a typical business cycle. this is much more of a long-term deleveraging debt cycle where the price of money is not really the arbiter of what happens long-term. and that is why i think we're finding that qe1, qe2, qe3, so much of that capital that they're spending is going back into the fed in the form of excess reserves. it's not getting lent because loan demand is not there. >> so if you're an individual investor, how do you play it? i own the mortgage rates, for example. are those something that i should continue to hold or should i be worried about the curve steepening? what would you suggest? individuals can't go out and really buy properties. >> right. >> for a lot of them. exactly. i mean, i think first of all, you have to distinguish between the equity rooeits and the mortgage reits. >> and distinguish. >> absolutely. there's a clear hierarchy of balance sheets and business model that, you know, if you do your homework, you can prob
the second reason is historically interest rates have fallen when the fed and the government are trying to work there way out of a recession, out of a typical business cycle. this is much more of a long-term deleveraging debt cycle where the price of money is not really the arbiter of what happens long-term. and that is why i think we're finding that qe1, qe2, qe3, so much of that capital that they're spending is going back into the fed in the form of excess reserves. it's not getting lent...
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Sep 25, 2012
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until now, all the governments involved, uk, u.s. as well as the french and german of course have come up with a lot of yes buts. meaning they're looking at trying to safe guard jobs and also a possible takeover and the golden share offered quite a few days ago, however it could be getting in to problems when it comes into the eu competition wall. so we really have to see. perhaps tomorrow after that meeting, we could see more information. ross. >> all right. thanks for that, patricia. >> want to just quickly sticking with transport, take a look at continental shares, they're down now more than 4% in frankfurt trade, this after the company's major shareholder sold over 20 million shares at a price of about 77.5. a key test for the transport sector and for sentiment around autos in particular. >> merkel says she would like the european court of justice to monitor the fiscal pact. we'll take a short break. still to come, caterpillar's falling, but is it too slow. bob... oh, hey alex. just picking up some, brochures, posters copies of m
until now, all the governments involved, uk, u.s. as well as the french and german of course have come up with a lot of yes buts. meaning they're looking at trying to safe guard jobs and also a possible takeover and the golden share offered quite a few days ago, however it could be getting in to problems when it comes into the eu competition wall. so we really have to see. perhaps tomorrow after that meeting, we could see more information. ross. >> all right. thanks for that, patricia....
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Sep 26, 2012
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another round of cuts of government spending which will mean lower salaries, pensions that could be affected as well. a lot of the details haven't come out, but they kind of know the story already. this is athens. once again, molotov cocktails as we have seen in the past. tear gas being used by the police to disperse the protesters. a lot of back and forth. that lasted just a couple of hours. it was smaller than we've seen in the past. but once again, two capitals in europe erupting in the last two days, today, in fact over austerity measures being imposed as they try to balance their budgets. >> michelle caruso-cabrera, thank you for that update. beakers, i'm going to you. the worse things get, the more likely it will be that spain actually seeks a bailout, right? borrowing costs have to remain high. 32 basis points rose in spanish bond yields. isn't that a good thing at the end of the day? >> yes. it's hard to say that social unrest is a good thing. but in terms of the markets, this pushes spain a lot closer to that bailout that everybody's been looking for. and you actually have a couple
another round of cuts of government spending which will mean lower salaries, pensions that could be affected as well. a lot of the details haven't come out, but they kind of know the story already. this is athens. once again, molotov cocktails as we have seen in the past. tear gas being used by the police to disperse the protesters. a lot of back and forth. that lasted just a couple of hours. it was smaller than we've seen in the past. but once again, two capitals in europe erupting in the last...
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Sep 26, 2012
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they are looking to slow down high speed training, the government approving a draft bill that would impose controls on such trading and critics worry it is excessive. you see the impact of high speed trading. what do you think? should will be rules in germany? should will be rules here? >> there should be rules both places. no doubt about it. a lot is not intended to be jamming the systems but it is and there has to be a payment system and i like the payment system they came up with in germany. >> it is not an issue -- it is an issue of speed, the speed that bothers you, the volume? >> the speed does not bother me. it is the fact potentially they can set up scenario that is unfortunately do cause markets to move in those flash crash type of events and those are awful. we all know that. that's an easy answer. the tough thing is how do you control that speed? i think by controlling that speed you make the folks that are actually trying to run at those speed limits at least have certain qualifications. that's what the german plan is. >> tell me more about the german plan. >> essentially there
they are looking to slow down high speed training, the government approving a draft bill that would impose controls on such trading and critics worry it is excessive. you see the impact of high speed trading. what do you think? should will be rules in germany? should will be rules here? >> there should be rules both places. no doubt about it. a lot is not intended to be jamming the systems but it is and there has to be a payment system and i like the payment system they came up with in...
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Sep 27, 2012
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so why does the government hate taxes, john? >> it's not just these federal agencies that owe taxes. we learned earlier in the year that over a billion dollars is owed by federal employees. there's a scofflaw problem in our very government. >> this is total nonsense. i just the figures -- >> this is social security taxes, right? >> i just checked how many federal employees there were in october -- in august. it works out at just over $6 per employee. it's neither here nor there. it's an accounting error -- >> but there is something very silly about the government paying itself taxes. >> it's a delay in funding. >> they're already immune to the federal income tax. the government doesn't pay federal income tax. it doesn't really make sense. >> it's a non-story. >> move over "50 shades of grey." j.k. -- >> is it rowling or rowling? >> i have no idea. >> highly anticipated first adult novel, "the casual vacancy." it's in bookstores today. it's already number one on amazon's best-seller list. but will drugs, sex, and swearing in the
so why does the government hate taxes, john? >> it's not just these federal agencies that owe taxes. we learned earlier in the year that over a billion dollars is owed by federal employees. there's a scofflaw problem in our very government. >> this is total nonsense. i just the figures -- >> this is social security taxes, right? >> i just checked how many federal employees there were in october -- in august. it works out at just over $6 per employee. it's neither here...
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Oct 3, 2012
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she says the iranian government is to blame for the currency crash in that country. she is likely referring to the government's nuclear weapons program that has brought on harsh international sanctions. as mandy and michelle talked about, the iranian currency has absolutely collapsed and the situation getting more desperate in tehran. >>> well, here we are less than seven hours away from president obama and mitt romney squaring off in the first of three presidential debates. there's been a lot of talk that the market is already pricing in an obama re-election. in fact, in trade showing betters placing a 70% chance on an obama re-election. but some new polls suggest romney is closing the gap. so what happens to the markets and your money if mitt romney pulls ahead or wins? joining us, art, is a romney win bad for stocks? art, we're going to get your mike running. is a romney win bad for stocks? >> i think a romney win is great for stocks. at least the psychology will be two things. first, first cal conservati first, fiscal conservative coming in 2013 to help with grow
she says the iranian government is to blame for the currency crash in that country. she is likely referring to the government's nuclear weapons program that has brought on harsh international sanctions. as mandy and michelle talked about, the iranian currency has absolutely collapsed and the situation getting more desperate in tehran. >>> well, here we are less than seven hours away from president obama and mitt romney squaring off in the first of three presidential debates. there's...
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Oct 1, 2012
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morgan and a whole host and what i will point to, aig, trading up.6 times and now that the government over hang is largely removed you still have about 16% exposure but a big bulk gone and i think you can focus on fundamentals and that's what i would point to. >> steve grasso, one of the things that barons mentions, the prospects of improving capital markets, is that something that lifts all financial boats if you will and if that in fact does happen and who else would you look at here? >> j.p. morgan is dead on real early when we thought it was going to crack the $30 level to the downside and with the london wail and at this point i don't know if goldman sachs coming back into being the favorite play. i like the article. i like what it has to say. technically it has had a problem with that 120 area and the 125 area and i would rather see they're looking for this dramatic of a capital appreciation, i would rather let it prove itself in the low 120s before i jump back onto goldman sachs. >> just give me a quick comment on the financials. i know you have been talking more on the regiona
morgan and a whole host and what i will point to, aig, trading up.6 times and now that the government over hang is largely removed you still have about 16% exposure but a big bulk gone and i think you can focus on fundamentals and that's what i would point to. >> steve grasso, one of the things that barons mentions, the prospects of improving capital markets, is that something that lifts all financial boats if you will and if that in fact does happen and who else would you look at here?...
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Oct 1, 2012
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we've shared what we've learned with governments and across the industry so we can all produce energy more safely. i want you to know, there's another commitment bp takes just as seriously: our commitment to america. bp supports nearly two-hundred-fifty thousand jobs in communities across the country. we hired three thousand people just last year. bp invests more in america than in any other country. in fact, over the last five years, no other energy company has invested more in the us than bp. we're working to fuel america for generations to come. today, our commitment to the gulf, and to america, has never beenonger. [ male announcer ] the exceedingly nimble, ridiculously agile, tight turning, fun to drive 2013 smart. ♪ . >> three months after supreme court justice moved to the right and passed obama care. pete williams has some details. >> reporter: larry, this is shaping up to be a court term dominated by civil rights beginning with a case that will be argued next week on affirmative action, colleges nationwide use it believing that a more racially diverse campus provides a bett
we've shared what we've learned with governments and across the industry so we can all produce energy more safely. i want you to know, there's another commitment bp takes just as seriously: our commitment to america. bp supports nearly two-hundred-fifty thousand jobs in communities across the country. we hired three thousand people just last year. bp invests more in america than in any other country. in fact, over the last five years, no other energy company has invested more in the us than bp....
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Sep 27, 2012
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government is still a great big shareholder and that stock's going up, boom, you get slapped up side the head with a big gob of gm stock. bulls in the china shop, it's still important to temper your expectations. too many stocks go up on a whiff of stimulus. many stock also go down if there's no stimulus. >>> coming up, answering the call. >> they have want to come on the show to tell me why i'm too bearish, they're welcome. >> cramer is all ears when the company's ceo gets in the hot seat just ahead. when you take a closer look... ...at the best schools in the world... ...you see they all have something very interesting in common. they have teachers... ...with a deeper knowledge of their subjects. as a result, their students achieve at a higher level. let's develop more stars in education. let's invest in our teachers... ...so they can inspire our students. let's solve this. you know what i love about this country? trick question. i love everything about this country! including prilosec otc. you know one pill each morning treats your frequent heartburn so you can enjoy all this grea
government is still a great big shareholder and that stock's going up, boom, you get slapped up side the head with a big gob of gm stock. bulls in the china shop, it's still important to temper your expectations. too many stocks go up on a whiff of stimulus. many stock also go down if there's no stimulus. >>> coming up, answering the call. >> they have want to come on the show to tell me why i'm too bearish, they're welcome. >> cramer is all ears when the company's ceo gets...
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Oct 3, 2012
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that lack of dollars means massive inflation, one of the chief reasons why governments fall. >> and brian, you were weighing in saying it is not just what is going on in iran but layer in the tensions between syria and turkey and that puts another level into the mix. >> the reason why this is important to a u.s. investor is because it has to do with oil. it is clear that the u.s. and saudi arabia have this plan of pumping as much oil as they can and it is starting to watch. now you have to think what happens if there is a regime change. so as a u.s. investor that is great for the u.s. economy. that is great for u.s. stocks. what has to happen in the u.s. market is oil has always been this traditional leading indicator in the economy. if oil is up that means there is lots of demand and that is great. >> let's look at the oil picture. we did see oil breaking below $88. how could a regime change in iran impact oil? joining us is the king of commodities himself. you can take a look at wti. it doesn't seem like it is reflecting the tensions or would we be even lower if we didn't have them? >>
that lack of dollars means massive inflation, one of the chief reasons why governments fall. >> and brian, you were weighing in saying it is not just what is going on in iran but layer in the tensions between syria and turkey and that puts another level into the mix. >> the reason why this is important to a u.s. investor is because it has to do with oil. it is clear that the u.s. and saudi arabia have this plan of pumping as much oil as they can and it is starting to watch. now you...
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Sep 25, 2012
09/12
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it's giving the federal government an opportunity to get its house in order. very much like the integration of euro countries back in the last decade where -- >> it's josh. i'm just curious. first of all, i admire your conviction, 35% cash in the midst of a market meltup. i guess john talks about how he wants his investors to judge him over a full market cycle, understanding the fact he will trail in certain types of market environments. how do you feel about that? are you willing to forego-g a rally of this strength and breadth to ultimately be right and skate where the puck is, where you think it's going to be in 2013? >> absolutely. i've done it throughout my entire career. it's something i addressed in the commentary about that our clients and managers will be tested during this period of time. we are coming into the most critical year, i believe, in the last 80 years in 2013. and it's something i've spoken about -- >> that's a big, big statement. mike murphy? >> rob, i was in the same camp coming into qe3. i was hoping that the fed didn't do anything. i t
it's giving the federal government an opportunity to get its house in order. very much like the integration of euro countries back in the last decade where -- >> it's josh. i'm just curious. first of all, i admire your conviction, 35% cash in the midst of a market meltup. i guess john talks about how he wants his investors to judge him over a full market cycle, understanding the fact he will trail in certain types of market environments. how do you feel about that? are you willing to...